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If ever there was a week that should be wracked by volatility, this is it…
Market-leading AI/chip stock Nvdia just concluded a 10-for-1 stock split – if you owned one share last Thursday, you own 10 now. Historically, these splits aren’t all that kind to stocks. The AI stock is said to be “priced to perfection,” but we’ll just see about that this week.
AI might not be enough to save Apple right now. At the company’s Worldwide Developers Conference corporate honchos announced new AI initiatives and product integrations. AAPL shares sank like a stone. I’m old enough to remember when the letters “AI” and “WWDC” were reliable intraday profit catalysts for this stock… but it seems AI doesn’t have the cachet it did just a few months ago. Then again, releasing similar features as your competitors doesn’t add much value
Amidst all of this we’ll see another inflation data point in short order – CPI and PPI print on Wednesday, and we’ll get an FOMC announcement as well. Wednesday may herald the one-two punch that moves the market.
I think we should expect some volatility. It’s going to be tough for Jerome “JPow” Powell to outdo the dovishness on display in Canada and Europe right now. Here’s what I think we should do about it…
